Meditation Market
The Meditation Global Market Report 2023 by The Business Research Company, provides meditation market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Meditation Global Market Report 2023, the global meditation market size is expected to grow from $5.46 billion in 2022 to $6.65 billion in 2023 at a compound annual growth rate (CAGR) of 21.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global meditation market size is expected to grow to $14.60 billion in 2027 at a CAGR of 21.7%.
The increased incidence of stress and anxiety is expected to propel the growth of the meditation market. Stress is defined as any type of change that causes physical, emotional, or mental pain. While anxiety refers to a sensation of tension, concerned thoughts, and bodily changes such as elevated blood pressure, Meditation induces a sense of serenity, tranquility, and balance, which can enhance both emotional health and general health. It is also used to reduce anxiety and relax by redirecting attention to something soothing. Meditation teaches to stay centered and maintain inner balance.
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The meditation market is segmented:
1) By Type: Open Monitoring, Focused Attention, Self-Transcending Meditation
2) By Meditation Type: Zen Meditation, Metta Meditation, Spiritual Meditation Or Transcendental Meditation, Progressive Relaxation Or Body Scan Meditation, Mindfulness Meditation, Breath Awareness Meditation, Kundalini Yoga
3) By Age: Adult, Children
4) By End-User: Meditation Centers, Home Setting, Corporates Or Schools Or Colleges
Mobile or electronic application development is the key trend gaining popularity in the meditation market. Major companies operating in the meditation market are focused on developing innovative solutions to strengthen their position in the market. For instance, in May 2022, Mobio Interactive, a Singapore-based app developer that creates and publicizes a digital theragnostic platform driven by AI offering clinically approved psychotherapy regimens customized to each patient, launched the AmDTx app. AmDTx provides a variety of psychotherapy choices. A strong emphasis has been placed on medical-grade mindfulness meditation activities, which may be accessed via various options. Other perks include evaluating stress levels using a mobile camera, stress self-evaluations, intuitive mood calculation, and free-form writing. It can also be used to finish meditation sessions or other types of digitally transmitted psychotherapy by utilizing a range of training features like self-guided, intent, and others.
The meditation market report table of contents includes:
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